How Much Are Calgarians Spending On Parking? : New JLL Report Discusses Impact on Retail [Interview]

JLL has released a comprehensive overview of Downtown Calgary parking, comparing the city to some of the largest cities in North America.

And Calgary comes across as one of the most expensive cities in North America. 

Parking in the downtown of any city impacts the business sector – from retail to office.

Here are the key findings of that report:

• As a city of 1.4 million people, suburban residents rely on driving or transit to commute downtown. As the most expensive city in Canada for monthly parking and third most expensive in North America (behind New York and San Francisco), Calgarians are forced to pay inflated costs to park in or around their work.

• Costs of C-Train fares have increased annually and are now $112 a month or $11.25 for a day pass for an adult passenger. In November, the City proposed increasing fares by three per cent annually until 2026 when a monthly adult pass will cost $126.

• Average daily inbound LRT ridership has decreased 36.8 per cent since 2016. Calgarians that require to travel to their work have chosen private vehicles as fear lingers post the COVID-19 pandemic and the worry of safety and security at stations and on the train.

• Although costs are more expensive than other Canadian cities, Calgarians are still choosing to pay for parking. The average monthly reserved stall in a tenant building was $525 ending January 2023. The average monthly unreserved stall was $445. Compared to 2020, reserved stalls have increased $21 on average, and unreserved stalls have decreased by $14 on average.

• There are 31,592 third-party parking stalls north of 11^th Avenue owned by Calgary Parking Authority, Impark, and Indigo. In 2016, there was an average of 161,613 vehicles entering downtown daily between 6 a.m. and 10 p.m. In 2022, there was an average of 143,204 vehicles entering downtown daily.

• The most expensive parking stalls are located close to downtown amenities, such as The CORE shopping centre, the Petroleum Club, and The Westin Hotel.

• Calgarians looking to save costs are more likely to purchase parking stalls close to the C-Train Free Fare Zone that runs through downtown or will walk to the Plus 15 to get to their destination.

In this video interview, Mason Lam, Vice-President, Office Practice Lead and Broker of Record (Alberta) and Ron Odagaki, Senior Sales Associate, Retail, both with JLL, discuss the findings of the report and how it impacts the retail and office sectors in downtown Calgary.

The Video Interview Series by Retail Insider is available on YouTube.

Connect with Mario Toneguzzi, a veteran of the media industry for more than 40 years and named in 2021 a Top Ten Business Journalist in the world and the only Canadian – to learn how you can tell your story, share your message and amplify it to a wide audience. He is Senior News Editor with Retail Insider and owner of Mario Toneguzzi Communications Inc. and can be reached at mdtoneguzzi@gmail.com.

Interviewed this episode:

• Mason Lam
• Ron Odagaki

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